Der Bürge verzichtet auf das Recht auf Einrede der Vorausklage

English translation: the surety waives the defense of failure to pursue remedies

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Explanation:The bailsman (guarantor) waives the right to the benefit of discussion.

Romains translates "Einrede der Vorausklage" as 'benefit of discussion' and explains it as 'privilege of surety that the creditor should first proceed against the debtor and exhaust his remedy against him'.

Explanation:to pursue remedies. The remedy in question is as follows:
Specifically, Section 771 BGB provides that the guarantor can refuse to pay off the creditor, provided that the creditor has not unsuccessfully undertaken an enforcement action against the principal debtor.
In this case, the guarantor is waiving his right TO REFUSE TO PAY OFF(satisfy)the creditor until such time as the creditor has undertaken enforcement action and failed. Deutsches Rechtlexikon Verlag Beck